Chen Zhaobin to take the reins at APT Satellite Holdings

Chen takes over the position from He Kerang, who is due to retire and will remain as vice chairman of the Board.

Liu Jiyuan, chairman of APT Satellite Holdings, commenting on Chen's appointment says, "Mr Chen is the leader of the telecommunications industry in China, including the HKSAR. He has extensive experience managing listed companies in the industry. The Board of Directors believes that the company will attain new breaththroughs under the leadership of Mr Chen."

Chen has extensive experience in the telecommunications industry, as well as corporate management. Prior to joining APT, he held senior positions with China Telecommunications Broadcast Satellite Corporation, China Telecom now known as China Mobile, Telpo Communications and the Office of Coordination Production of the Ministry of Posts and Telecommunications of the PRC (now known as the Ministry of Information Industry).

Commenting on his appointment, Chen says: "I will do my best to act as the president as well as in developing the company in order to obtain the greatest benefit for the shareholders. APT Satellite Holdings Limited is a high-tech enterprise with great development potential and I have confidence in reaching higher with its existing business foundation."

Other appointments at APT include Cui Xinzheng and Wu Jinfeng, who have been appointed executive director and non-executive director of the company, respectively.